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USD/CHF from 0 Pips

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The Swiss franc is one of five Major currencies. However, this isn't because of its trading volumes: USD/CHF accounts for just 4% of global foreign exchange volumes (less then than USD/GBP, USD/AUD or even the USD/CAD currency pairs).

A safe haven currency

Instead, the Swiss franc acts as a safe haven - a currency that investors turn to as a store of value rather than a source of capital appreciation at times of market turmoil. For example, the Swiss franc appreciated by 15% against the Dollar from 1.1964 on July 1st to 1.3779 on August 11th following the downgrade of the United States' credit rating by Standard & Poor's.

As good as gold?

Switzerland's neutrality, stable political system and secretive banking system make Switzerland a popular destination for risk-averse investors. However, the currency's long standing ties to gold also explain its role as a store of value. Formerly, the Swiss National Bank (SNB) was required to redeem banknotes into gold on request. Until 1997, the Swiss constitution required that at least 40% of the currency be backed by gold reserves. Since, a constitutional amendment lowered the threshold to 25% and the bank's gold reserves have fallen. However, the Swiss franc maintains to this day a strong positive correlation with gold. When the price of gold rises, the Swiss franc is likely to appreciate in response.

Latest news

Technical Update Of EUR/USD, USD/JPY, AUD/USD And USD/CHF: 14.02.2017 FX Empire

Although 1.0590-85 horizontal-support recently triggered EURUSD's bounce, a downward slanting trend-line stretched since early February, at 1.0635, may confine the pair's pullback recovery and can again drag it towards 1.0590-85. Adding to this, today ... More »

USD/CHF Short Term Trading Levels are .9960 and 1.0019/45 Nasdaq

-I wrote last USD/CHF update that "I'd watch for support now between .9996 and 1.0019. 1.0122 (1/19 high) is possible resistance." The top on Wednesday was 1.0118 but USD/CHF has dropped beneath both suspected supports. Swissie is trading between a ...and more » More »

USD/CHF fighting hard to stay in the buyers zone February 17, 2017 FX Daily Report

The USD/CHF has increased significantly today and has managed to recover after the yesterday's massive drop, has come back right above the 1.0000 psychological level, has increased as much as 1.0014 and could hit the 1.0018 static resistance in the ...and more » More »

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